Tenneco, Inc. designs, manufactures, and distributes emission control and ride control products and systems for the automotive original equipment market and the repair and replacement markets. It operates through the following segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air; Asia Pacific Ride Performance. These segments manufacture and distribute either ride control or emission control products primarily for the original equipment and aftermarket industries. Its brands include Monroe, Rancho, Clevite Elastomers, Marzocchi, Axios, Kinetic, and Fric-Rot for ride control products; and Walker, Fonos, DynoMax, Thrush, and Lukey for emission control products. The company was founded in 1996 and is headquartered in Lake Forest, IL.

Lyrical Asset Management Investments employs a value investment approach. They believe that a portfolio of companies with low valuations relative to their long-term normalized earnings power will outperform the overall market over time. The firm's philosophy is to invest only in businesses that they believe are of high quality. Investments are limited to publicly-traded equity securities and cash equivalents. Clients may impose restrictions on investing in certain securities or types of securities. LAM begins with a universe of the top US 1,000 stocks (market-cap around $3 billion), and then uses a proprietary screen to generate investment candidates. The screen estimates a fair price for each stock applying a normalized multiple to an estimate of 5-year forward normalized earnings, which is calculated by taking the historical earnings trend line of a company and consensus estimates for future earnings and statistically extrapolating forward 5 years. Each portfolio candidate/stock idea goes through a fundamental research process. This process is designed to develop an understanding of the business, including drivers of growth and profitability, competitive advantages, position and leverage with customers and suppliers, historical and potential business threats/opportunities, and management style, objectives and incentives. Attractive investment ideas are considered for inclusion in the portfolio. These are companies where Lyrical believes the investment controversy to be temporary, where the underlying business has sufficient quality and durability, and where the discount in the stock price is large enough to compensate for the risks of the investment.For Lyrical Long-Only Partners, LAM uses the same screening process and the same general investment methodology as they use for long positions. They also seek to sell short overvalued securities which can be bought to cover when their stock price declines to the price target. For Lyrical US Hedged Value Fund (LYRHX), they generally sell short sector-specific ETFs to hedge market exposures from LYRHX’s long positions. Lyrical doesn’t attempt to time the markets, or focus on weightings relative to any index.

DNB AM is a GARP-oriented, occasionally contrarian investment manager which uses both active and passive investment processes to invest globally in a variety of asset classes including equity, debt, money market instruments, commodities and alternative investments. They invest across market-caps and sectors, with the bulk of their assets in Norwegian blue chip equity. Research is shared with fellow asset management subsidiaries, in particular through a global program of company visits. Tactical asset allocation is based on a proprietary scenario-generating model developed jointly with academics.The firm's investment approach for fixed-income and money market instruments takes into accounts short-term trends and long-term strategy. Index funds are geared towards maximal cost effectiveness. Actively managed portfolios are diversified, uncorrelated and favor liquid markets. They use disciplined review and exit processes including stop-losses.Their equity investment process is top-down and consists of stock picking informed by market trend analysis and a macroeconomic view. The firm seeks to identify turning points in the evolution of key indicators. They manage diversified and uncorrelated equity portfolios and aim to invest in companies outperforming their peers on a global level. Their alternative portfolios are invested in equity following a long/short strategy.

Cooke & Bieler employs a traditional, conservative, domestic equity, value investment strategy. Their generally employ a long-term approach, rather than engaging in trading or speculative investment strategies. Cooke & Bieler are active, bottom-up managers who study the fundamental characteristics of companies and the industries in which they operate to reach a conclusion on their quality and intrinsic value. Their security analysis also emphasizes research meetings and interviews with corporate management. The firm seeks to take advantage of short-term but fixable problems, either industry-wide or in specific investee companies. The quality characteristics they insist on allow management time to fix internal issues, to outlast competitors in consolidating industries, or to take advantage of economic cycles. Cooke & Bieler believes that their explicit focus on price and quality differentiates them from other value oriented managers. They base their valuation on ten years of projected cash flow plus a terminal value, and our historical holding period has been 3 to 5 years. Cooke & Bieler offers the following strategies: Large Cap Value, Mid Cap Value, All Cap Value, Small Cap Value, SMID Cap Value, and Balanced.

Navistar International Corp. is a holding company, which engages in the manufacture of military truck, proprietary diesel engines, school and commercial buses, and service parts for trucks and diesel engines. It also offers retail, wholesale, and lease financing services for trucks and parts. It operates through the following segments: Truck, Parts, Global Operations, and Financial Services. The Truck segment manufactures and distributes Class 4 through 8 trucks, buses, and military vehicles under the International and IC brands, along with production of proprietary engines, primarily in the North America markets. The Parts segment provides customers with proprietary products together with a wide selection of other standard truck, trailer, and engine service parts. The Global Operations segment consists of the operations of its wholly-owned subsidiary, IIAA, which manufactures and distributes mid-range diesel engines and provides customers with additional engine offerings in the agriculture, marine, and light truck markets. The Financial Service segment provides and manages retail, wholesale, and lease financing of products sold by the Truck and Parts segments and their dealers. It also finance wholesale and retail accounts receivable. The company was founded in 1902 and is headquartered in Lisle, IL.

General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks, and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM Europe, GM International Operations, GM South America, and Corporate. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.

Hyundai Motor Co., Ltd. engages in the manufacture and distribution of motor vehicles and parts. It operates through the following business areas: Vehicle, Financial and Others. The Vehicle division offers motor vehicles. The Financial division provides financing, leasing and credit cards. The Other division includes manufacture of railways. The company was founded on December 29, 1967 and is headquartered in Seoul, South Korea.

Shiloh Industries, Inc. engages in designing, engineering, and manufacturing of lightweight technologies for the mobility market. It operates through the Automotive and Commercial Vehicles segment. Its products include body structure and interior systems; chassis systems; and powertrain systems. It also perform steel processing services such as oiling; leveling; cutting-to-length; multi-blanking; slitting; edge trimming of hot and cold-rolled steel coils; and inventory control services. The company was founded in 1950 and is headquartered in Valley City, OH.

Financial Engines, Inc. engages in the provision of technology-enabled portfolio management, investment advice and retirement income services. It services include professional management, online advice, retirement evaluation and Expand Beyond Workplace Defined Contribution Plans. The company was founded by William F. Sharpe, Joseph A. Grundfest and Craig W. Johnson in 1996 and is headquartered in Sunnyvale, CA.

Woodward, Inc. engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the Aerospace and Industrial segments. The Aerospace segment designs, manufactures, and services systems and products for the management of fuel, air, combustion and motion control. These products include main fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, as well as flight deck controls actuators, servo controls, motors and sensors for aircraft. The Industrial segment designs, produces and services systems and products for the management of fuel, air, fluids, gases, electricity, motion, and combustion. These products consists of actuators, valves, pumps, injectors, solenoids, ignition systems, speed controls, electronics and software, power converters, and devices that measure, communicate and protect electrical distribution systems. The company was founded by Amos W. Woodward in 1870 and is headquartered in Fort Collins, CO.

BorgWarner, Inc. operates as a clean and efficient technology company. It offers solutions for combustion, hybrid and electric vehicles. Its products improve vehicle performance, propulsion efficiency, stability and air quality. The company also manufactures and sells products to tier one vehicle systems suppliers. It operates through the following business segments: Engine and Drivetrain. The Engine segment develops and manufactures products to manage engines for fuel efficiency, reduced emissions, and enhanced performance. Its products include: turbochargers, timing systems, emissions systems, thermal systems, thermostats, diesel cold start and gasoline ignition technology. The Drivetrain segment develops and manufactures mechanical products for automatic transmissions and all-wheel drive vehicles and rotating electrical components for light and commercial vehicles. It improves fuel economy and vehicle performance. Its products include friction, mechanical and controls products for automatic transmissions and torque management products for all-wheel drive vehicles. BorgWarner was founded in 1928 and is headquartered in Auburn Hills, MI.

Meritor, Inc. engages in the design, production, and trade of integrated systems, modules, and components to original equipment manufacturers. It operates through the Commercial Truck and Industrial, and Aftermarket and Trailer segments. The Commercial Truck and Industrial segment supplies drivetrain systems and components, which includes axles, drivelines, braking and suspension systems for medium and heavy-duty trucks, military, construction, bus and coach, fire and emergency and other applications. The Aftermarket and Trailer segment provides axles, brakes, drivelines, suspension parts and other replacement parts to commercial vehicle and industrial aftermarket customers in North America and Europe. The company was founded on July 7, 2000 and is headquartered in Troy, MI.